Living in the catchment area of a state secondary school with an ‘Outstanding’ Ofsted inspection could add an average 27.6% extra to the cost of your house, according to new research by homebuying company Quick Move Now.
The firm, who researched property prices in 45 counties in England, compared sold prices for properties within a quarter-mile radius of a secondary school with an ‘outstanding’ Ofsted report with the average sold price in the county.
Hampshire saw the biggest price increase, with a 176% premium payable to live within quarter of a mile of an ‘outstanding’ secondary school. The school, Kings’ School in SO22 5PN, has an average house price within a quarter-mile radius of £810,000, compared to the country average house price of £292,826.
Just seven of the areas researched were not affected by the presence of an ‘outstanding’ secondary school: Berkshire, Cornwall, Dorset, Essex, Northamptonshire, Rutland and Worcestershire.
Quick Move Now’s managing director, Danny Luke, said: “This research highlights the importance homeowners place on their children’s education when making a house purchase.
“With information such as Ofsted inspection results now readily available online, parents have access to far more information than ever before and are better equipped to make an informed decision about where their child will study.”